Tag: Foreign Reserves
-
FG grows foreign reserves by $4bn – Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria’s foreign reserves grew by four billion dollars since January.
-
Nigeria’s Foreign Reserves likely to drop to $32bn before year end – IMF
The International Monetary Fund (IMF) has warned that if care is not taken, the foreign exchange reserves of Nigeria may decline to $32 billion in 2020. The international lender made this projection in a press statement released recently. It further said the crash in the price of crude oil at the international market since the…
-
CBN allays fears as foreign reserves dip further to $38.3bn
Though the Central Bank of Nigeria (CBN) has said Nigerians should not panic over the gradual decline in the foreign reserves, observers have cautioned both the fiscal and monetary authorities not sleep with their eyes closed because it might spell doom for the country. This is because if the depletion of the reserves continues with…
-
Nigeria’s External Reserves Drop 8% to $39.6bn in 2019
Data obtained on Monday from the Central Bank of Nigeria (CBN) showed that from the first business day of this year, January 2, 2019, till Friday, December 6, 2019, the country’s external reserves dropped 8.13 percent from $43.076 billion to $39.576 billion. This represents a decline of about $3.458 billion. Recall that the reserves have…
-
CBN clears air on ‘depleting’ foreign reserves, 2019 political spending
The Central Bank of Nigeria (CBN) on Monday explained that the recent reduction in the level of the country’s foreign reserves have anything to do with political activities. Director of Corporate Communications of the CBN, Mr. Isaac Okorafor gave this explanation at the 13th Abuja Chamber of Commerce Mines and Industries (ABUCCIMA) Trade Fair in…
-
Foreign reserves hit $47bn – CBN
The Central Bank of Nigeria (CBN) has said the country’s foreign reserve as at April 5, 2018, stood at $47.37 billion. The new figures rose from about $46.2 billion realised at the end of March. The CBN Governor, Godwin Emefiele, announced the new balance in the reserves on Monday at the opening of the 25th…
-
Foreign reserves hit 30-month high at $31.6b – CBN
…as apex bank injects $297m into forex market The nation’s foreign exchange reserves have stood at a 30-month high at $31.59 billion, as at August 18. The Central Bank of Nigeria (CBN) data have shown. Nigeria’s dollar reserves have climbed back to a level they last reached in January 2015, shortly before the general elections.…